DeLaet's Landing waterfront project underway in Rensselaer

RENSSELAER -- Progress on the long-stalled DeLaet's Landing project has begun with crews clearing land along the Hudson River in preparation for an expansive $300 million complex of stores, apartments and a hotel.

Crews with U.W. Marx Construction Co. have spent the past six weeks cutting the river banks down to grade-level in preparation for the construction of the riverside public promenade, said Jeff West, vice-president of the Troy-based company. They are aiming to begin construction on the promenade and the first five-story building in mid-summer.

"It's taken a lot longer than we originally anticipated, but it looks like we're finally over the hump," said West.

As originally conceived, the complex would be centered around a man-made harbor carved from the river bank and surrounded by 515 residential units in a mix of low-, mid- and high-rise buildings. Among those, the city is intending to include a lofty hotel -- possibly 25 stories -- which will be the project's capstone.

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Several operators have met with the city about the site, said Rensselaer Mayor Daniel J. Dwyer, among them the Hyatt Hotel Corp., Marriott and the Hard Rock Cafe. West would not comment on possible operators as it was "too early in the process," but said that some operators had been in discussions with the developer.

The harbor -- which, if completed, would be the northernmost on the Hudson -- would be protected by a pedestrian pier and would contain a marina with boat docks and launch. Among the waterfront amenities that might accompany are pedestrian and bike trails, a playground and park grounds.

That plan, however, is still up in the air, pending approval by the state Department of Environmental Conservation. After installation of sewer and water infrastructure began in 2010, DEC stalled plans when they warned that the planned crescent-shaped harbor might damage a species of sub-aquatic flora -- water celery -- that supports river wildlife. It was the most recent delay of a project first conceived in 2004.

The current groundwork was approved in August 2011 through a DEC permit. This work does not include the harbor, part of project's second phase, for which the developer has been working to acquire a permit.

Prior to construction, Marx must secure early financing for the project. The developer is attaining those loans through KeyBank, said West, and will be guaranteed by the Department of Housing and Urban Development. Construction cannot move forward until the company receives final approval, expected early this summer.

The expansive, 25-acre project at 575 Broadway is expected to include 165,000 square feet of retail, 250,000 square feet of office space and 1,830 parking spaces. The development is being constructed on the former site of the Rensselaer Middle and High School, which was demolished in 2008 by U.W. Marx.